LBNYX | Bond Debenture Fund Class I | Lord Abbett

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

 

Bond Debenture Fund

Track this Fund
Add to Hypo Tool

Summary

Summary

What is the Bond Debenture Fund?

The Fund seeks to deliver high current income and long-term growth of capital by investing primarily in a variety of fixed income securities and select equity-related securities.

A PIONEER IN MULTI-SECTOR

Over four decades of multi-sector bond investing, emphasizing rigorous credit research.

A FLEXIBLE APPROACH

The flexibility to adjust allocations to take advantage of opportunities as market conditions change.

TIME-TESTED RESULTS

A long track record illustrates performance in many market environments.

Yield

Average Yield to Maturity as of 03/28/2024

6.94%

30-Day Standardized Yield 1 as of 03/31/2024  

6.00%

Fund Basicsas of 03/28/2024

Total Net Assets
$20.97 B
Inception Date
03/27/1998
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.58%
Fund Net Expense Ratio
0.58%
Number of Holdings
904
Minimum Initial Investment

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/27/1998
w/o sales charge 2.07% 7.32% -0.64% 2.55% 3.72% 5.46%
Lipper Category Avg. Multi-Sector Income Funds 1.12% 6.58% -0.12% 1.98% 2.68% -
Bloomberg U.S. Aggregate Bond Index -0.78% 1.70% -2.46% 0.36% 1.54% 3.94%
w/ sales charge 2.07% 7.32% -0.64% 2.55% 3.72% 5.46%

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/27/1998
w/o sales charge 2.07% 7.32% -0.64% 2.55% 3.72% 5.46%
Lipper Category Avg. Multi-Sector Income Funds 1.12% 6.58% -0.12% 1.98% 2.68% -
Bloomberg U.S. Aggregate Bond Index -0.78% 1.70% -2.46% 0.36% 1.54% 3.94%

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

Type Assets
U.S. High Yield Corporate
U.S. Investment Grade Corporate
MBS
Non-U.S. Investment Grade Corporate
Non-U.S. High Yield Corporate
Equity
Sovereign
Bank Loans
CMBS
CLO
ABS
Municipals
Private Credit
Convertibles
Cash
Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

Credit Quality Distribution as of 03/28/2024 View Portfolio

Rating Assets
Agency
AAA
AA
A
BBB
BB
B
<B
Not Rated

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

23 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

33 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner, Portfolio Manager

26 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

30 Years of Industry Experience

Robert S. Clark
Robert S. Clark, CFA

Portfolio Manager

27 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

16 Years of Industry Experience

Karen  J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

14 Years of Industry Experience

Supported By 79 Investment Professionals with 17 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Average Yield to Maturity as of 03/28/2024

6.94%

30-Day Standardized Yield 1 as of 03/31/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.00% 6.00%

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/27/1998
w/o sales charge 2.07% 7.32% -0.64% 2.55% 3.72% 5.46%
Lipper Category Avg. Multi-Sector Income Funds 1.12% 6.58% -0.12% 1.98% 2.68% -
Bloomberg U.S. Aggregate Bond Index -0.78% 1.70% -2.46% 0.36% 1.54% 3.94%
w/ sales charge 2.07% 7.32% -0.64% 2.55% 3.72% 5.46%

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/27/1998
w/o sales charge 2.07% 7.32% -0.64% 2.55% 3.72% 5.46%
Lipper Category Avg. Multi-Sector Income Funds 1.12% 6.58% -0.12% 1.98% 2.68% -
Bloomberg U.S. Aggregate Bond Index -0.78% 1.70% -2.46% 0.36% 1.54% 3.94%

Fund Expense Ratio :

Gross 0.58%

Net 0.58%

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2023 7.08% 5.53%
2022 -12.49% -13.01%
2021 3.46% -1.54%
2020 7.69% 7.51%
2019 13.80% 8.72%
2018 -3.77% 0.01%
2017 9.44% 3.54%
2016 12.62% 2.65%
2015 -1.59% 0.55%
2014 4.76% 5.97%
2013 8.16% -
2012 13.49% -
2011 4.35% -
2010 13.40% -
2009 35.87% -
2008 -20.14% -
2007 5.72% -
2006 10.29% -
2005 1.93% -
2004 8.97% -
Year Q1 Q2 Q3 Q4
2024 2.07% - - -
2023 1.84% 0.31% -1.39% 6.29%
2022 -5.82% -7.91% -1.71% 2.66%
2021 0.88% 2.23% 0.16% 0.16%
2020 -11.92% 10.20% 4.42% 6.26%
2019 6.91% 3.67% 0.66% 2.00%
2018 -1.10% 0.02% 2.30% -4.90%
2017 2.72% 2.01% 2.60% 1.80%
2016 1.69% 4.38% 4.83% 1.21%
2015 3.46% -0.39% -3.59% -0.95%
2014 2.93% 2.60% -1.50% 0.71%
2013 3.21% -1.28% 2.66% 3.42%
2012 5.76% 0.20% 4.56% 2.43%
2011 4.31% 0.94% -6.39% 5.88%
2010 3.93% -1.11% 6.60% 3.50%
2009 2.51% 12.94% 11.51% 5.24%
2008 -2.83% 1.52% -7.75% -12.25%
2007 2.61% 1.32% 1.99% -0.30%
2006 2.82% -0.43% 3.64% 3.95%
2005 -1.78% 1.63% 1.61% 0.49%
2004 1.83% -0.53% 3.05% 4.39%
2003 3.44% 7.92% 2.06% 5.83%
2002 0.08% -3.83% -1.84% 5.15%
2001 3.84% -0.22% -3.52% 5.47%
2000 -0.16% 1.00% 1.45% -2.84%
1999 1.77% 0.05% -1.36% 3.82%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
U.S. High Yield Corporate
U.S. Investment Grade Corporate
MBS
Non-U.S. Investment Grade Corporate
Non-U.S. High Yield Corporate
Equity
Sovereign
Bank Loans
CMBS
CLO
ABS
Municipals
Private Credit
Convertibles
Cash
Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

Credit Quality Distribution as of 03/28/2024

Rating Assets
Agency
AAA
AA
A
BBB
BB
B
<B
Not Rated

Portfolio Positioning as of 12/31/2023

  • The Fund remained diversified across broad fixed income sectors. Beyond investment grade and high yield corporate bonds, the Fund maintained a meaningful allocation to agency mortgage-backed securities (MBS), as well as modest allocations to convertible bonds, EM sovereign and corporate debt, bank loans and municipal bonds. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • Within high yield credit, the Fund continued to invest in higher carry, shorter duration securities. The risk rally in the final months of the year led high yield spreads to meaningfully compress and reach their tightest levels since April 2022. While we believe there is still modest room for spreads to move lower, we acknowledge that valuations are relatively tight, and we continue to be more focused on sourcing investments that offer higher income with more limited duration exposure. We see value in the new issue high yield market as a strong source of carry given higher coupons and continue to actively participate in select primary issues. We added to the Fund’s Single-B credit exposure throughout the period as macroeconomic data in the U.S. has been mostly positive. We used higher-rated investment grade credit that exhibited tight valuations as a source of cash for these trades.
  • Within corporate sectors, we reduced Energy exposure in favor of higher beta sectors. Although we continue to be constructive in the Energy space given the sector’s fundamental strength and improvement in balance sheet management, we reduced exposure in December given continued softness in WTI Crude prices which dropped below $70 for the first time since 2021. However, this allocation change has not altered the Fund’s top overweights or underweights, as we remain constructive in the Energy sector overall due to its strong fundamental profile.
  • We increased the Fund’s exposure in Agency MBS. The Fund continued to invest in Agency MBS, which performed well in the quarter given the rally in bond yields. We view the asset class as a strong source of carry with minimal credit exposure. We continue to closely monitor this asset class for technical pressure from deposits and have reduced some of this allocation in recent months and rotated into more credit-sensitive sectors.

Portfolio Details as of 03/28/2024

Total Net Assets
$20.97 B
Average Effective Duration
3.83 Years
Average Life
6.66 Years
Average Maturity
8.14 Years
Number of Issues
904
Average Yield to Maturity
6.94%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 04/19/2024
$0.10490
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 03/31/2024 $0.03531 $7.08
Daily Daily 02/29/2024 $0.03452 $7.01
Daily Daily 01/31/2024 $0.03507 $7.03

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 04/30/2024
Daily Daily 05/31/2024
Daily Daily 06/30/2024
Daily Daily 07/31/2024
Daily Daily 08/31/2024
Daily Daily 09/30/2024
Daily Daily 10/31/2024
Daily Daily 11/30/2024
Daily Daily 12/31/2024

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
07/27/2022 07/28/2022 - $0.0131 $0.0131 $7.24

Fees & Expenses

Fees & Expenses

Expense Ratioas of 03/31/2024

Fund Gross Expense Ratio Fund Net Expense Ratio
0.58% 0.58%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Fund Story
Publish Date:11/03/2015

To order literature visit full website

You may add to your cart by selecting quantities in each row below.

No rows selected. Please Go back and select at least one fund document

 
Quantity
Quantity
Remove
Remove

The Bloomberg U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

Select funds to run a Morningstar Hypothetical Report.

    Please confirm your literature shipping address

    Please review the address information below and make any necessary changes.

    All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

    Current Literature Shipping Address

    * Required field